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Simple models for multi-attribute choice with many alternatives: When it does and does not pay to face tradeoffs with binary attributes

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  • Robin Hogarth & Natalia Karelaia, 2004. "Simple models for multi-attribute choice with many alternatives: When it does and does not pay to face tradeoffs with binary attributes," Economics Working Papers 739, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2005.
  • Handle: RePEc:upf:upfgen:739
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    1. Bettman, James R & Luce, Mary Frances & Payne, John W, 1998. " Constructive Consumer Choice Processes," Journal of Consumer Research, Oxford University Press, vol. 25(3), pages 187-217, December.
    2. Keeney,Ralph L. & Raiffa,Howard, 1993. "Decisions with Multiple Objectives," Cambridge Books, Cambridge University Press, number 9780521438834, March.
    3. Robin Hogarth & Natalia Karelaia, 2004. "Ignoring information in binary choice with continuous variables: When is less 'more'?," Economics Working Papers 742, Department of Economics and Business, Universitat Pompeu Fabra, revised Oct 2004.
    4. Fishburn, Peter C, 1991. "Nontransitive Preferences in Decision Theory," Journal of Risk and Uncertainty, Springer, vol. 4(2), pages 113-134, April.
    5. Robin Hogarth, 2003. "Is confidence in decisions related to feedback? Evidence-and lack of evidence-from random samples of real-world managerial behavior?," Economics Working Papers 655, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2004.
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    Cited by:

    1. repec:eee:transb:v:101:y:2017:i:c:p:28-50 is not listed on IDEAS
    2. Berg, Nathan, 2014. "Success from satisficing and imitation: Entrepreneurs' location choice and implications of heuristics for local economic development," Journal of Business Research, Elsevier, vol. 67(8), pages 1700-1709.
    3. Jean-François Bonnefon & Didier Dubois & Hélène Fargier & Sylvie Leblois, 2008. "Qualitative Heuristics For Balancing the Pros and Cons," Theory and Decision, Springer, vol. 65(1), pages 71-95, August.
    4. David Leiser & Dov-Ron Schatzberg, 2008. "On the complexity of traffic judges' decisions," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3(8), pages 667-678, December.
    5. Durbach, Ian N., 2009. "The use of the SMAA acceptability index in descriptive decision analysis," European Journal of Operational Research, Elsevier, vol. 196(3), pages 1229-1237, August.
    6. Berg, Nathan & Biele, Guido & Gigerenzer, Gerd, 2010. "Does consistency predict accuracy of beliefs?: Economists surveyed about PSA," MPRA Paper 26590, University Library of Munich, Germany.
    7. Hauser, John R., 2014. "Consideration-set heuristics," Journal of Business Research, Elsevier, vol. 67(8), pages 1688-1699.
    8. Pantelis P. Analytis & Amit Kothiyal & Konstantinos Katsikopoulos, 2014. "Multi-attribute utility models as cognitive search engines," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 9(5), pages 403-419, September.
    9. Robin Hogarth & Natalia Karelaia, 2005. "Regions of rationality: Maps for bounded agents," Economics Working Papers 828, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2006.
    10. Torsten Reimer & Ulrich Hoffrage, 2006. "The Ecological Rationality of Simple Group Heuristics: Effects of Group Member Strategies on Decision Accuracy," Theory and Decision, Springer, vol. 60(4), pages 403-438, June.
    11. Robin Hogarth & Natalia Karelaia, 2006. "On heuristic and linear models of judgment: Mapping the demand for knowledge," Economics Working Papers 974, Department of Economics and Business, Universitat Pompeu Fabra.
    12. Clintin Davis-Stober, 2011. "A Geometric Analysis of When Fixed Weighting Schemes Will Outperform Ordinary Least Squares," Psychometrika, Springer;The Psychometric Society, vol. 76(4), pages 650-669, October.

    More about this item

    Keywords

    Decision making; bounded rationality; lexicographic rules; choice theory; Leex;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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